MIRA INFORM REPORT

Report Date :

07.09.2013

IDENTIFICATION DETAILS

Name :	BREAK EVEN 1036 CC

Registered Office :	57-59 Sydney Road, Durban, Kwazulu Natal

Country :	South Africa

Date of Incorporation :	02.10.2000

Com. Reg. No.:	B2000/058882/23

Legal Form :	Close Corporation

Line of Business :	· importer and wholesaler of clothing Retail trade in textiles, clothing, footwear and leather goods

No. of Employees :	05

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

South Africa ECONOMIC OVERVIEW

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Source : CIA

Subject Name	BREAK EVEN 1036 CC
Country	South Africa
Subject Contact Person	SURESH PARBHOO - Managing Member
Assessment	This is a well-established family business. On investigation contact was made with the Managing Member, SURESH PARBHOO. The business has been operating for 12 Years 11 Months. No adverse information was revealed during the investigation. All financial information and banking details were declined and considered confidential. The identity of the principal enquirer was requested to be made known before further information may be revealed. Please see the information obtained below.

Auditors information

Company Registered Name	RAAAATHE INC
Trading Name	DESAI BHAGAT AND JEENA
Registration Number	M2003/011968/21
Physical Address	101 DR R D NAIDU DRIVE (PREVIOUS NAME STANLEY COPLEY DRIVE)
Postal Address	P O BOX 37324, OVERPORT, 4067
Contact Person	ROHIT DESAI
Contact Number	0312689800
Email	desai@dbj.co.za
Principals	9
Judgements Against Subject	No information found on file
Judgements Against Principals	No information found on file
Subject Verified as Client	Yes
Practice Number	919179E
VAT Number	4080218680
Tax Number	9417352151
BEE Status	None
Financial Year End	February
No of years in Business	10 Years
Website	www.ramathe.co.za

Previous Auditors Information - No Information on Record

Tax Information

Vat Number	4360203816
Status	ACTIVE
Vat Liable Date	2002/11/01
Tax Number	9195141149
Financial Year End	February

Black Economic Empowerment

Status	No
Score	9.00
BEE Certificate Available	No

ISO Information - No Information on Record

Workman's compensation

Registered	Yes
Compliance Certified	Yes

Company Structure

Subsidiaries

Subsidiary Company	There are no reported subsidiaries
Employees
Number of Employees	5
1. Salaried employees	5
2. Waged employees	0
3. Permanent employees	5
4. Casual employees	0
5. Contracted employees	0
Company Fleet
Company Fleet	No of vehicles:	Owned/Leased	Value	Outstanding Balance
Fleet Operations
The Fleet is made up of	1
Comment
Light delivery Vehicles	1	Leased

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	JN SINGLETON
Type of Premises	OFFICE AND WAREHOUSE

Branch Information

Branches Names	Country	Province
There are no reported branches of the concern	South Africa

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing Member	SURASH THAKOR PARBHOO

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - SURASH THAKOR PARBHOO	BREAK EVEN 1036 CC

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	AERO MARITIME LOGISTICS CC	031 2056292

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	4 Years		R 200000	7 Days	R 50000	7 Days	Good Account. There is no credit limit set in place.

Adverse Information on Subject

Business Rescue - No Information on Record

Judgements - No information on record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank Information - No Information on Record

Bank Code History - No Information on Record

Previous Bank Account Information - No Information on Record

Deeds Information - No information on record

Principals

Number of Principals	1
Average Age of Active Principals	58

Active Principals Principal - 1of 1 SURASH PARBHOO

Surname	PARBHOO
First Name	SURASH
Other Names	THAKOR
Marital Status	Single
ID Number	5504195090085
Verified ID Number	Yes
Current Age	58 Years 5 Months
Designation	Managing Member
Status	Active
Appointment Date	2001/08/06
Physical Address (at time of Appointment)	117 PARLOCK DRIVE, PARLOCK, DURBAN, 4035
Postal Address	P O BOX 76750, MARBLERAY, 4035
Current Tel Number	0315772809
Cell number	0837775451
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for SURASH PARBHOO

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
BREAK EVEN 1036 CC	B2000/058882/23	In Business	13 Years 1 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 0 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
TERONE INVESTMENTS (PTY) LTD	M2001/010427/07	Deregistration Final		0	No

Principal's Deeds Information - No information on record

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.96
UK Pound	1	Rs.102.91
Euro	1	Rs.86.58

INFORMATION DETAILS

Report Prepared by :

MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Registered Name	BREAK EVEN 1036 CC
Trading as/ Division Name	BREAK EVEN 1036
Previous Name	None
Date of Name Change	None
Registration Number	B2000/058882/23
Registration Date	2000/10/02
Date Commenced Trading	2000-10-02
Age of Business	12 Years 11 Months
History of Business	BREAK EVEN 1036 CC was registered in October 2000 and operations commenced immediately.
History of Principals	There is one active member within the business.
Shareholders/Members/Partners of subject and % holding	100 % - SURASH THAKOR PARBHOO
Authorised Share Capital	R 100.00
Issued Share Capital/Members Contribution	R 100.00
Status	In Business
Operations Assessment	The company is involved in the import and wholesale of clothing.
Industry/ Customers	The clothing industry
Export	Yes
Export Countries	Swaziland
Import	Yes
Import Countries	India
Major Industry Code / SICC	6232
Definition of Code	Retail trade in textiles, clothing, footwear and leather goods
Head Office Physical Address	57-59 Sydney Road, Durban, KWAZULU NATAL
Head Office Postal Address	P O BOX 76750, Marble Ray, NEWLANDS, 4035
Current Tel Number	0313075943
Cell Number	0837766164
Current Fax Number	0313077128
Current Email Address	breakevenl036@telkomsa.net
Web Site Address	None